Saudi Arabia Drilling Fluids Market Size & Outlook
Saudi Arabia drilling fluids market, 2018-2030 (US$M)
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Saudi Arabia drilling fluids market highlights
- The Saudi Arabia drilling fluids market generated a revenue of USD 553.9 million in 2023 and is expected to reach USD 751.3 million by 2030.
- The Saudi Arabia market is expected to grow at a CAGR of 4.4% from 2024 to 2030.
- In terms of segment, wbf was the largest revenue generating product in 2023.
- WBF is the most lucrative product segment registering the fastest growth during the forecast period.
Drilling fluids market data book summary
| Market revenue in 2023 | USD 553.9 million |
| Market revenue in 2030 | USD 751.3 million |
| Growth rate | 4.4% (CAGR from 2023 to 2030) |
| Largest segment | Wbf |
| Fastest growing segment | WBF |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | OBF, SBF, WBF |
| Key market players worldwide | Baker Hughes Co Class A, CES Energy Solutions Corp, Halliburton Co, Newpark Resources Inc, Petronas Chemicals Group Bhd, Schlumberger Ltd, Weatherford International PLC Ordinary Shares - New |
Other key industry trends
- In terms of revenue, Saudi Arabia accounted for 6.7% of the global drilling fluids market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Middle East & Africa, Saudi Arabia drilling fluids market is projected to lead the regional market in terms of revenue in 2030.
- Algeria is the fastest growing regional market in Middle East & Africa and is projected to reach USD 317.1 million by 2030.
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Drilling Fluids Market Scope
Drilling Fluids Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Saudi Arabia drilling fluids market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to drilling fluids market will help companies and investors design strategic landscapes.
Wbf was the largest segment with a revenue share of 49.3% in 2023. Horizon Databook has segmented the Saudi Arabia drilling fluids market based on obf, sbf, wbf covering the revenue growth of each sub-segment from 2018 to 2030.
Growing concern towards environmental impacts of offshore E&P activity coupled with stringent environmental regulations regarding carbon footprint, is expected to drive water based drilling fluids demand over the forecast period Large number of ongoing operations in major oilfields such as Ghawar, Safaniya, Khurais, and Shaybah are expected to play key role for oil & gas industry growth in the region.
Growing demand for air conditioning and other industrial cooling equipment is expected to drive electricity demand in the region. Growing concern towards collapsing boreholes, spill containment and handling solid wastes is expected to drive drilling and completion fluid demand over the forecast period.
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Our clientele includes a mix of drilling fluids market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the Saudi Arabia drilling fluids market , including forecasts for subscribers. This country databook contains high-level insights into Saudi Arabia drilling fluids market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Saudi Arabia drilling fluids market size, by product, 2018-2030 (US$M)
Saudi Arabia Drilling Fluids Market Outlook Share, 2023 & 2030 (US$M)
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